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Jan 16, 2013
01/13
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. >>> a helicopter crashes in central london. cnbc confirms it happened in the south of the capital. >>> and auto stocks take a hit after europe logged a 17-year low in new car registrations in 2012. down 16% in december alone. >>> it will be a big day for bank earnings in the u.s. reports due out from jpmorgan and goldman sachs before the opening bell. >>> all right. it's the middle of the week here on "worldwide exchange." we come to you with reports of a helicopter crash in london south of the river, vauxhall. we know emergency services are attending the situation at the moment. apparently the helicopter had just the pilot in it. there may well be others involved on the ground. >> what do you know about the area? >> it's very close to -- close to where the new u.s. embassy is going to be built. a major transport junction, as well. a major transporting junction south of the river, southwest of london, as well. it's not far from -- actually not far from the heliport, just further down the river. >> there's only one commercial he
. >>> a helicopter crashes in central london. cnbc confirms it happened in the south of the capital. >>> and auto stocks take a hit after europe logged a 17-year low in new car registrations in 2012. down 16% in december alone. >>> it will be a big day for bank earnings in the u.s. reports due out from jpmorgan and goldman sachs before the opening bell. >>> all right. it's the middle of the week here on "worldwide exchange." we come to you with...
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Jan 11, 2013
01/13
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of london, they're embracing the building. we have some deextracters, but i think on the whole the building is popular. >> the highest viewing points on the tower, the views can be seen up to 40 miles. even the best architecture in the world can't mitigate the weather and today it's a little more wet than wow. building europe's largest building was nearly ended back in 2009 due to lack of funds. house ago five-star hotel, world renown restaurant and exclusive residential apartments, the architects dub it a vertical city. london is one of the key cities in the world. one of the things that was always lacking in the city was the ability to come up with a tall building and look down on the city in the same way as the eiffel tower, you can see paris, you can see new york, and this is a 21st century layer that has been added to the city. this is a sign of our times. >> it will have to be the highest toilet in london. talk about a loo with a view. >>> these are the headlines from around the globe. weakness in europe continues to wei
of london, they're embracing the building. we have some deextracters, but i think on the whole the building is popular. >> the highest viewing points on the tower, the views can be seen up to 40 miles. even the best architecture in the world can't mitigate the weather and today it's a little more wet than wow. building europe's largest building was nearly ended back in 2009 due to lack of funds. house ago five-star hotel, world renown restaurant and exclusive residential apartments, the...
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Jan 23, 2013
01/13
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. >> i'm kelly evans in london. these are your headlines from around the world -- british prime minister david cameron promises to hold a referendum on the e.u. warning that a concession for the democratic leadership is wafer thin. >> if we don't address these challenges, the danger is that europe will fail and the british people will drift toward the exit. >>> google could light a fire under u.s. markets today as the giant's fourth quarter profits top forecasts on higher ad revenues. >>> and here in davos, bank ceos fight back against regulators in an exclusive cnbc debate, apologizing to scandals of the past but defiant it the role of the industry. >> i think there's so much misinformation out there that's used aggressively by people for their own purposes. we provide a service to you. we make a little money every time we do it. that's what happens. >>> and ceo confidence down for a third year in a row according to a survey here. despite markets hitting multiyear highs with lack of decisions in the u.s. weighing o
. >> i'm kelly evans in london. these are your headlines from around the world -- british prime minister david cameron promises to hold a referendum on the e.u. warning that a concession for the democratic leadership is wafer thin. >> if we don't address these challenges, the danger is that europe will fail and the british people will drift toward the exit. >>> google could light a fire under u.s. markets today as the giant's fourth quarter profits top forecasts on higher...
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Jan 7, 2013
01/13
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he is based in london. nicholas, thank you for joining us. underperformed s&p 500, gold at a five-month low or near it for now. what is your outlook for gold in 2013? >> i think gold is still in a bull market but i think it is median to longer term bull market. what happens over 2013 i think will depend very much on what happens with sof ridge risk issues, both in the u.s. and europe and also in real interest rate policy. my gut instinct is they will be positive but perhaps not as positive as they've been over the past few years. >> let me ask you about a fund you have. you have a very interesting gold fund. this is the swiss gold shares. if you put that up for me, this is direct ownership of gold in switzerland. is there people who need gold in switzerland versus london and new york? what is wrong with london and new york? why would people want this fund? >> i suppose is depends on dwr why you are buying gold. a lot of people don't buy gold for a lot of reasons they don't buy in ibm stock or by copper or oil. a lot of them are buying it base
he is based in london. nicholas, thank you for joining us. underperformed s&p 500, gold at a five-month low or near it for now. what is your outlook for gold in 2013? >> i think gold is still in a bull market but i think it is median to longer term bull market. what happens over 2013 i think will depend very much on what happens with sof ridge risk issues, both in the u.s. and europe and also in real interest rate policy. my gut instinct is they will be positive but perhaps not as...
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Jan 3, 2013
01/13
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at the moment is coming from london and the southeast. over time, cyclical manufacturing conditions improvement, as well. we would expect that confidence to start spreading more diversely acourt reporter the uk as a whole. >> and one of the standouts, we've had a disconnect between different bits of data. what surprised many is how well employment has stood up in the uk. what are firms saying about their current hiring or staffing levels? >> stable. the net balance on employment conditions on the business in britain survey is pretty much unchanged from where it was six months ago. i guess it isn't that surprising. we've seen a fall in activity in the uk over the last year or so. and companies effectively have taken on quite a lot of labor. i think they're now pausing a little bit looking at what's happening with volatility rates and deciding this isn't a sign to be rehiring more and more labor. rather, they're going to wait for productively levels start to rise in 2014. so the labor market picture in 2013 is a little bit more subdued and
at the moment is coming from london and the southeast. over time, cyclical manufacturing conditions improvement, as well. we would expect that confidence to start spreading more diversely acourt reporter the uk as a whole. >> and one of the standouts, we've had a disconnect between different bits of data. what surprised many is how well employment has stood up in the uk. what are firms saying about their current hiring or staffing levels? >> stable. the net balance on employment...
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Jan 23, 2013
01/13
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whether -- we had this big discussion about new york versus london. what happens to the banking system. what happens to the financial? that is the u.k. that's become a big i issue. let's bring in a good friend, as i said, of "squawk." bob hormatz, you know him well. a new -- not a fancy new title, but you're the under secretary of state for economic growth, energy, and the environment. that changed a year ago? >> yes, we tried to pull these together. increasingly what happens in the economy has an impact on the environment. environmental issues and energy issues are increasingly intertwined. >> always big in davos. and david cameron, it has an impact on the global economy if this were to go forward. the chances of it going forward i think are small. he has to get re-elected in 2015 to propose the up or down vote in 2017. it does put a cloud over the u.k. and e.u. a bit. >> the u.s. view has been not to get involved in u.s. politics. the u.s. view is that -- involved in u.k. politics. the u.s. view that a strong u.k. and e.u. is good for the u.k., for
whether -- we had this big discussion about new york versus london. what happens to the banking system. what happens to the financial? that is the u.k. that's become a big i issue. let's bring in a good friend, as i said, of "squawk." bob hormatz, you know him well. a new -- not a fancy new title, but you're the under secretary of state for economic growth, energy, and the environment. that changed a year ago? >> yes, we tried to pull these together. increasingly what happens in...
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Jan 17, 2013
01/13
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you showed us the reaction to the shares in london. this news came out after the sydney market had closed for the trading session. the stock initially down by about 4.5%. but improving, as you just showed us, down about 2.7%. really, you have to say, this is just the final straw when it comes to a series of budgetels as tom albanese has been the ceo since 2007 with respect to a series of acquisitions. there's been write-down after write-down. you mention dollars that $14 billion impairment charge that has been announced today that is going to flow through when it comes to the 2012 results. 3 billion of that related to the recent riverside coal acquisition in mozambique. but $11 billion of that associated to the carrying value of its aluminum assets. the company saying its deterioration in the aluminum market in 2012 in certain regions, higher energy costs and raw material costs resulting in a negative impact on the current market values of the aluminum business. but in terms of what the chairman had to say in an announcement today that
you showed us the reaction to the shares in london. this news came out after the sydney market had closed for the trading session. the stock initially down by about 4.5%. but improving, as you just showed us, down about 2.7%. really, you have to say, this is just the final straw when it comes to a series of budgetels as tom albanese has been the ceo since 2007 with respect to a series of acquisitions. there's been write-down after write-down. you mention dollars that $14 billion impairment...
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Jan 28, 2013
01/13
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they're comparing new york with beverly hills, with london, with moscow, with parts of brazil. they tell me new york is a good value for a dollar on dollar basis. considering our relatively stable government, our rule of law, and all those issues. so it's still a good buy. >> and lon dop's very expensive now. so london had a big boom and we're finding that that's quieted down quite a bit. >> what about pricing in the united states? in new york, for example, are prices getting up there at this point? or do you think there's still values? >> i think the peak is still a value if you look at it vis-a-vis london and hong kong. >> so even though they're at a peak, they're much better than the international hot spots. >> exactly. >> supply. what about supply? >> you know, that's my big question. i was talking to brokers in aspen and palm beach and they say there aren't homes left. there is less quality inventory at a reasonable sale. that's what they're worried about with sales. i'm curious what dolly thinks of good quality inventory in new york. >> i think there's enough good apartme
they're comparing new york with beverly hills, with london, with moscow, with parts of brazil. they tell me new york is a good value for a dollar on dollar basis. considering our relatively stable government, our rule of law, and all those issues. so it's still a good buy. >> and lon dop's very expensive now. so london had a big boom and we're finding that that's quieted down quite a bit. >> what about pricing in the united states? in new york, for example, are prices getting up...
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Jan 23, 2013
01/13
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jpmorgan jamie dimon apologizing to shareholders for the $6 billion london whale trading loss, but he's also saying life goes on, and, of course, it's easier to say that when you still have record profits despite that big trading loss. >> coming up next, don't miss maria's exclusive interview with jpmorgan ceo jamie dimon. >> apple's crucial earnings release. can you not afford to miss that. we've got the instant analysis that you'll see right here coming up. with fidelity's new options platform, we've completely integrated every step of the process, making it easier to try filters and strategies... to get a list of equity options... evaluate them with our p&l calculator... and execute faster with our more intuitive trade ticket. i'm greg stevens and i helped create fidelity's options platform. it's one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. nothing. are you stealing our daughter's school supplies and taking them to work? no, i was just looking for my stapler and my... this thing. i save money by using fedex grou
jpmorgan jamie dimon apologizing to shareholders for the $6 billion london whale trading loss, but he's also saying life goes on, and, of course, it's easier to say that when you still have record profits despite that big trading loss. >> coming up next, don't miss maria's exclusive interview with jpmorgan ceo jamie dimon. >> apple's crucial earnings release. can you not afford to miss that. we've got the instant analysis that you'll see right here coming up. with fidelity's new...
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Jan 16, 2013
01/13
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a bit, jamie dimon's compensation takes a by the due to the hits they suffered due to the so-called london whale. >> banking sector did pretty well today. >> overall, and it was a merry christmas for ebay. we're going to find out. those earnings will hit just after the bell about an hour from now. holiday sales will tell the story. we'll have what it means, the instant analysis as soon as the numbers are released. >> first let's get you caught up on the market in the final stretch. dow jones industrial average down about 24 points. very much a steady administration for the last hour or so. 13,510, last trade on the blue chip average and nasdaq composite moving higher. real momentum in tech today. the highs are just, yeah, right at the highs right now with a 13-point move on the upside. nasdaq and s&p 500 higher by just about a point. is the dow set to break that five-day winning streak though? >> let's talk about that among other things in today's "closing bell" exchange. we welcome back our guests, including our own rick santelli and steve liesman. it's all about the fiscal cliff in that
a bit, jamie dimon's compensation takes a by the due to the hits they suffered due to the so-called london whale. >> banking sector did pretty well today. >> overall, and it was a merry christmas for ebay. we're going to find out. those earnings will hit just after the bell about an hour from now. holiday sales will tell the story. we'll have what it means, the instant analysis as soon as the numbers are released. >> first let's get you caught up on the market in the final...
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Jan 16, 2013
01/13
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i think that they think that things like the london wale was a temporary issue. and goldman sachs, talking compensation. i don't think there's going to be any real big developments there. i think any breakdown will end up being bought. now something i can tell you real quick, friday -- >> we got to go. thank you. enjoy your ski goggles. >> thank you. >> i'll tell you why, you see that going along the bottom, boeing 787. andrew and michelle, i've got the memorandum from al nippon airways. here's the circumstances of the event. and i would call up a boeing chart because almost a lot of the dow weakness is in boeing. boeing closed at 7,694. it fight 73.45 to 73.66. on this flight the aircraft carriers showed messages related to the battery at 88:37 a.m. at 30,000 feet. it doesn't say smoke. there was an unusual smell in the cockpit and cabin. the flight made an emergency landing. later it was confirmed that the main battery in the forward electronic equipment bay was discolored and loelectrolysis solution. there was a leak and smell. as a result, the airline has can
i think that they think that things like the london wale was a temporary issue. and goldman sachs, talking compensation. i don't think there's going to be any real big developments there. i think any breakdown will end up being bought. now something i can tell you real quick, friday -- >> we got to go. thank you. enjoy your ski goggles. >> thank you. >> i'll tell you why, you see that going along the bottom, boeing 787. andrew and michelle, i've got the memorandum from al...
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Jan 22, 2013
01/13
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i would love to see sarkozy in buttoned-up london. could you see him ogling kate middleton? >> the british press would love it. john? >> i think there will be more of this. and i think we will see push back, some of the higher tax governments in europe say we need tax harmization. that won't happen, but we'll see a push for it. >> topic number two, this involves our poll. we asked all of you out there via yahoo! finance should companies be allowed to limit what employees say about them on social media sites? 18% of you said yes, it's meant to protected the company and employees. 21% said, no, workers have the right to speak freely online. 61% said employees need to use commonsense when talking online. this reminds me, you know, we don't gather around the water cooler anymore. we gather in social media sites. isn't the same thing? >> the entire premise of should companies try to stop you from doing this is wrong. what companies should do, is not just say use common sense, they should help employees understand the right way to use social media, a way that doesn't undermine the
i would love to see sarkozy in buttoned-up london. could you see him ogling kate middleton? >> the british press would love it. john? >> i think there will be more of this. and i think we will see push back, some of the higher tax governments in europe say we need tax harmization. that won't happen, but we'll see a push for it. >> topic number two, this involves our poll. we asked all of you out there via yahoo! finance should companies be allowed to limit what employees say...
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Jan 7, 2013
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whale when you were in london? >> no, i did not. i saw the london eye. which i very much enjoyed. we did london bridge and a number of the other beautiful bridges. didn't see the whale. in the thames, no whale. no whale was in the thames. >> i think starbucks killed the whale. as opposed to, you know -- >> am very nice. >> you're going all sorts of places. >> i was just doing literary illusions. you're more like macarthur. >> i like him. >> krueger was the sixth army. >> people have no idea what we're talking about. >> patton, i don't know. >> i think pete carroll. jamie is pete carroll, okay? and it may have been shanahan. >> good thing we've got a live and exclusive interview later this morning with martha stewart. also ahead, the chairman and ceo of alkermes. what are you doing? nothing. are you stealing our daughter's school supplies and taking them to work? no, i was just looking for my stapler and my... this thing. i save money by using fedex ground and buy my own supplies. that's a great idea. i'm going to g
whale when you were in london? >> no, i did not. i saw the london eye. which i very much enjoyed. we did london bridge and a number of the other beautiful bridges. didn't see the whale. in the thames, no whale. no whale was in the thames. >> i think starbucks killed the whale. as opposed to, you know -- >> am very nice. >> you're going all sorts of places. >> i was just doing literary illusions. you're more like macarthur. >> i like him. >> krueger was...
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Jan 8, 2013
01/13
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former soccer star ronaldo moving to london and changing his career. he's taking an advertising job at wpp and he's going to work closely as mentor, mentee. why not, he's got a background in the marketing business or had one. right, brian? >> he has his own company. pro athletes when they retire don't know what to do with his life. this guy has not squandered his millions. he doesn't need the money. i almost liken this with warren buffett's relationship with lebron. if you have access why wouldn't you take advantage of it. that's what he's going to do. go to london, hang out in a sweet flat and hang out with him. >> i think it's extremely impressive. ronaldo, one of the most ubiquitous ever. he's not resting on his laurels. he benefited from the global marketing machine now he wants to get on the other side it and roll his sleeves up and do it with one of the best. >> in one of the best performances of all time mary thompson was at the game last night and she is here today, ladies and gentlemen, on the updatesque d that's point one. point two, ratings
former soccer star ronaldo moving to london and changing his career. he's taking an advertising job at wpp and he's going to work closely as mentor, mentee. why not, he's got a background in the marketing business or had one. right, brian? >> he has his own company. pro athletes when they retire don't know what to do with his life. this guy has not squandered his millions. he doesn't need the money. i almost liken this with warren buffett's relationship with lebron. if you have access why...
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Jan 22, 2013
01/13
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day in history in 1970, the boeing 747 went on its first regularly scheduled flight from new york to london. since then the 747 fleet has logged the equivalent of 101,000 trips to the moon and back and flown more than 4 billion people. a quick fix to the dreamliner drama seems more and more unlikely. fill lebeau has more on the widening investigation. what is the latest on this? >> what we're looking at now are the ntsb and the jtsb, the japan version of the transport safety board looking further at the suppliers. today the ntsb is in tucson, arizona. they're doing some tests down there. why are they in tucson? one of the suppliers to the 787 is a company called secure plane. scour plane makes chargers for the 787 litheon ion batteries. we called to get a comment from them today. she said they are not commenting. i want to show you shares of boeing again. let's go back to january 7th. we want to show this it's down 5%, and some people might be saying why isn't it down more? in part because they've been able to, for the most part, ride out any concerns regarding dreamliner production. at thi
day in history in 1970, the boeing 747 went on its first regularly scheduled flight from new york to london. since then the 747 fleet has logged the equivalent of 101,000 trips to the moon and back and flown more than 4 billion people. a quick fix to the dreamliner drama seems more and more unlikely. fill lebeau has more on the widening investigation. what is the latest on this? >> what we're looking at now are the ntsb and the jtsb, the japan version of the transport safety board looking...
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Jan 30, 2013
01/13
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he took a ride on the london underground earlier on today. what they call, of course, the tube, along with his wife camilla. the first time in a quarter century that the royal has ridden those rails. charles and camilla were commemorating the 150th anniversary of the london underground, the world's oldest subway system and runs like it as well. in the meantime, it is -- sorry. i should probably put it as a question. is it the dumbest or most genius product ever sold? you've got to be the judge next. [ male announcer ] at his current pace, bob will retire when he's 153, which would be fine if bob were a vampire. but he's not. ♪ he's an architect with two kids and a mortgage. luckily, he found someone who gave him a fresh perspective on his portfolio. and with some planning and effort, hopefully bob can retire at a more appropriate age. it's not rocket science. it's just common sense. from td ameritrade. ♪ [ male announcer ] don't just reject convention. drown it out. introducing the all-new 2013 lexus ls f sport. an entirely new pursuit. a
he took a ride on the london underground earlier on today. what they call, of course, the tube, along with his wife camilla. the first time in a quarter century that the royal has ridden those rails. charles and camilla were commemorating the 150th anniversary of the london underground, the world's oldest subway system and runs like it as well. in the meantime, it is -- sorry. i should probably put it as a question. is it the dumbest or most genius product ever sold? you've got to be the judge...
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Jan 7, 2013
01/13
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it is going to be gambled like with the london whale. >> gentlemen, we agree to disagree. a -- bill, thanks for -- >> read the hedge article. that's where the information comes from. >> thanks for bringing it to us in a discussion. >> thank you. >> take care. >> yeah. >> lots more discussion ahead on "street signs." >> a new post sickness. i'm healing debates -- >> you are shockingly and uncharacteristically mellow. >> must be the nyquil. a story on health insurance that may help you feel ill. [ male announcer ] count the number of buttons in your car. now count the number of buttons on your tablet. isn't it time the automobile advanced? introducing cue in the all-new cadillac xts. the simplicity of a tablet has come to your car. ♪ the all-new cadillac xts has arrived. and it's bringing the future forward. at legalzoom, we've created a better place to handle your legal needs. maybe you have questions about incorporating a business you'd like to start. or questions about protecting your family with a will or living trust. and you'd like to find the right attorney to help
it is going to be gambled like with the london whale. >> gentlemen, we agree to disagree. a -- bill, thanks for -- >> read the hedge article. that's where the information comes from. >> thanks for bringing it to us in a discussion. >> thank you. >> take care. >> yeah. >> lots more discussion ahead on "street signs." >> a new post sickness. i'm healing debates -- >> you are shockingly and uncharacteristically mellow. >> must...
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Jan 14, 2013
01/13
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. >> wintour was born in london, the daughter of charles wintour, editor of the london evening standard. he was a tough-minded intellectual. anna dropped out of high school at 16. >> i wasn't academically successful, and maybe i've spent a lot of my career trying to make up for that. >> your father, who i knew only slightly in england, had a tough reputation... >> yes, chilly charlie. >> not unlike yours. and his reporters were scared of him. >> yes, but look what he created. i mean, he created a great newspaper, and i certainly did learn this from him: people respond well to someone who's sure of what they want. >> and anna wintour is nothing but sure. that's most apparent when twice a year, her majesty takes her place at the ready-to-wear fashion shows in new york, paris, and milan, where she sits in judgment of the work of the world's most eminent designers. to an outsider, these shows are another planet: part dazzling, part rocky horror show, models who seem as angry as they are emaciated, wearing clothes fit for a cadaver and shoes that make stilettos seem sensible, and a legion of
. >> wintour was born in london, the daughter of charles wintour, editor of the london evening standard. he was a tough-minded intellectual. anna dropped out of high school at 16. >> i wasn't academically successful, and maybe i've spent a lot of my career trying to make up for that. >> your father, who i knew only slightly in england, had a tough reputation... >> yes, chilly charlie. >> not unlike yours. and his reporters were scared of him. >> yes, but look...
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Jan 29, 2013
01/13
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ftse in london is slightly higher, only by about five points. the s&p pulling back from the eight-day winning streak. the question is, will earnings and jobs numbers this week help or hinder the rally. joining us right now is wells capital management chief investment strategist jim paulsen, and doug cote who is the chief market strategist at ing investment management. our guest host, of course, barry sternlicht, chairman and ceo of the starwood capital group. jim, you have been positive for a very long time. you've been right. but when you see what's been happening with this rally, is this still a time where you would be advising people to jump on board, and put more money into stocks? >> well, i still think it's going to go higher over the year, becky. i still think that there's a lot of positive things happening here with economic momentum, valuations are still low, people are still under allocated to equities. a lot of forces to the upside. the question is, you know, has it come too far too fast here in the short term? certainly it's not goin
ftse in london is slightly higher, only by about five points. the s&p pulling back from the eight-day winning streak. the question is, will earnings and jobs numbers this week help or hinder the rally. joining us right now is wells capital management chief investment strategist jim paulsen, and doug cote who is the chief market strategist at ing investment management. our guest host, of course, barry sternlicht, chairman and ceo of the starwood capital group. jim, you have been positive for...
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Jan 29, 2013
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one of the flaws that nat rothschild brought to the london market is that he gave control of the plc to the backries. we are now trying to sort out that mess by removing the backries from the shareholder construction of this company approximately as i said before, it's time for both parties to step back, allow an empty management to do right thing. nick said he has no idea why nat rothschild said he embellished his cv and he doesn't have any personal issues with nat rothschild, either. >>> a u.s. judge will rule today on whether to approve bp's deal to plead guilty to man slaughter and other charges for its role in the 2010 gulf oil spill. under the settlement, bp would pay a record $4 billion in criminal fines. they will hear from the families of workers killed. bp agreed in november to plead guilty to charges related to the deaths and for lying to congress. shares there are moving higher, agd .7% in trade. >>> and the fbi is reportedly probing whether media companies helped facilitate insider trading by releasing market moving data prematurely. among the the companies investigated,
one of the flaws that nat rothschild brought to the london market is that he gave control of the plc to the backries. we are now trying to sort out that mess by removing the backries from the shareholder construction of this company approximately as i said before, it's time for both parties to step back, allow an empty management to do right thing. nick said he has no idea why nat rothschild said he embellished his cv and he doesn't have any personal issues with nat rothschild, either....
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Jan 18, 2013
01/13
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we'll discuss and preview when we come back. >>> and it's snowing in london. i'll have to get any jacket out. we'll be right back. >>> welcome to "worldwide exchange." these are your headlines around the world. a u.s. plane lands in algeria to evacuate americans from a gas plant under seernlg as reports suggest dozens may have been killed in a res kugz operation. >>> china's economy rebounds in the fourth quarter. intel shares are coming under pressure as investors are unnerved we the chipmaker's expending plans in 2013. >>> and glencore/xstrata delays their merger by six weeks. one of the companies opposed to the deal dropped its initial complaint. >>> so will today be the day that the s&p 500 breaks 1400? we've been at five-year highs for this index. it comes as jobless claims for the index fell to five-year lows. although the one-week decline was so large, it would probably have been an appear ragz. the nasdaq and the dow jones industrial average are pointed a little bit higher. keeping an eye on the nasdaq in particular because we're watching intel which i
we'll discuss and preview when we come back. >>> and it's snowing in london. i'll have to get any jacket out. we'll be right back. >>> welcome to "worldwide exchange." these are your headlines around the world. a u.s. plane lands in algeria to evacuate americans from a gas plant under seernlg as reports suggest dozens may have been killed in a res kugz operation. >>> china's economy rebounds in the fourth quarter. intel shares are coming under pressure as...
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Jan 8, 2013
01/13
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cac 40 up .3% and the ibex was flat. >> the city of london is continue to go slishg. a number of city workers in the uk capital has fallen to an eight-year low. now the financial authorities database show people employed in front line jobs at banks have fallen by nearly 20,000 since the financial crisis in 2007. the number of approved staff working in the financial services industry is just under 152,000. one of them is ali orogh. jim ferguson is still with us. ali, is it quieter around your office these days? >> no, not at all. not since yesterday, of course. but i'd like to see the number of how many people are employed working around the new regulation that's we all have to abide by. not just for the first of january, but going forward over the next few years. >> and how many of the city jobs are actually jobs regulating city? >> i think in the report that you mentioned that, you know, they expect jobs and production, numbers in general to speak who are regulated. but obviously, there are many ancillary businesses outside of actual banks which all contribute to wor
cac 40 up .3% and the ibex was flat. >> the city of london is continue to go slishg. a number of city workers in the uk capital has fallen to an eight-year low. now the financial authorities database show people employed in front line jobs at banks have fallen by nearly 20,000 since the financial crisis in 2007. the number of approved staff working in the financial services industry is just under 152,000. one of them is ali orogh. jim ferguson is still with us. ali, is it quieter around...
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Jan 16, 2013
01/13
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paris, possibly london. i got comments from people saying, bob, the bundan bank not trusting other banks. bad sign. unhappy with the fiscal irresponsibility of washington, bob. i don't know, guys, i don't think it's any of that. germany moves its stocks here because during the cold war they were afraid of a soviet invasion. that's long since gone. they're not changing that much. germany is the second supplier of gold in the world. they have 45% of their gold supply in the new york federal reserve. they're seeking to repatriate some of that. to bring it down to 37%. ultimately they want 50% of the gold in frankfurt. right now, only 31% of their gold is in frankfurt. they're bringing a whole bunch back from paris as well. another reason it might be an issue is, it could be expensive. in london they're reportedly being charged half a million euros a year just to store a small amount of gold sitting in a little room. that's not necessarily cheap. i would put aside the conspiracy theories and fiscal ir responsibi
paris, possibly london. i got comments from people saying, bob, the bundan bank not trusting other banks. bad sign. unhappy with the fiscal irresponsibility of washington, bob. i don't know, guys, i don't think it's any of that. germany moves its stocks here because during the cold war they were afraid of a soviet invasion. that's long since gone. they're not changing that much. germany is the second supplier of gold in the world. they have 45% of their gold supply in the new york federal...
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Jan 3, 2013
01/13
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they've become the top bilers of trophy homes in new york, miami, london and l.a. re wealthy russians are worried about growing corruption. as one rich russian told me, the official tax rate in russia pay be 13% but the real cost of protection is a lot higher. my advice, gerard, take a cue from his movie "green card," marry an american, settle down and pay the new obama rate of 39.6%. that still beats the french rate of 75%. back to you guys. >> how serious is vladimir putin? am i being naive to think he really means this? >> putin is the master of grand pr theatrics. this, you know, look, maybe depardieu will take him up on the offer. probably not. but the point is, to shift this perception that russia's become a dangerous place for the wealthy and a bad place for foreigners to invest, so, there's no lose here for putin. but i don't think gerard is going to move there. >> and we're thinking gerard maybe should lay off the croissants a little bit, too. >> unless it draws attention to the very problems which robert is highlighting. that's how it could backfire here.
they've become the top bilers of trophy homes in new york, miami, london and l.a. re wealthy russians are worried about growing corruption. as one rich russian told me, the official tax rate in russia pay be 13% but the real cost of protection is a lot higher. my advice, gerard, take a cue from his movie "green card," marry an american, settle down and pay the new obama rate of 39.6%. that still beats the french rate of 75%. back to you guys. >> how serious is vladimir putin? am...
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Jan 28, 2013
01/13
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. >> news last week that you took a pay cut as a result of the lond london whale trading loss. >> first, i didn't take it. i was given one. >> you were given a pay cut. >> which i think is appropriate. the board had a very tough decision to make. we had a record year and a bad. we had one terrible mistake in the year. look, we've fixed the problem from the financial risk for the most part. we've disclosed both a company report and a completely independent board report, independent outside advisors, et cetera. the regulars will u of course, have their views to do. so it will be more on going things from that. but we've mostly got the problem behind. we've cleaned up c.i.o. we've changed procedures to make sure we manage the company properly. >> so what kind of changes might we expect going forward? restructuring how the govern nans is done? >> last year, i think $1.8 trillion of capital or credit for consumers or businesses. we had a problem. we've fully acknowledged it. it's the same bank that went through '07, '08, '09, 2010, 2011. for the most part, did fine. whenever a company makes
. >> news last week that you took a pay cut as a result of the lond london whale trading loss. >> first, i didn't take it. i was given one. >> you were given a pay cut. >> which i think is appropriate. the board had a very tough decision to make. we had a record year and a bad. we had one terrible mistake in the year. look, we've fixed the problem from the financial risk for the most part. we've disclosed both a company report and a completely independent board report,...
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Jan 8, 2013
01/13
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we all know about the london whale trade. you made at least a couple hundred million on the two aspects of that trade. how did that work for you strategically and what else did you do in 2012? >> we're proud across the board of our performance last year. the trade that you have mentioned was certainly a good transaction but by no means was it the majority of our success last year. so we're very diversified across the flagship fund that you mentioned and really across all of the funds that we manage. the -- you know, i think the big theme going on in the financial markets is the changing business models of traditional financial intermediaries. and it's because of regulation, it's because of share shoulder expectatio expectations, it's because of lessons learned in the financial crisis. i think that's going to continue to be the theme going forward. when we look at what we've built at blue mountain, which we're very, very proud of and the capabilities that we've got and we look ahead at the changing landscape, we're staggered b
we all know about the london whale trade. you made at least a couple hundred million on the two aspects of that trade. how did that work for you strategically and what else did you do in 2012? >> we're proud across the board of our performance last year. the trade that you have mentioned was certainly a good transaction but by no means was it the majority of our success last year. so we're very diversified across the flagship fund that you mentioned and really across all of the funds that...
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Jan 21, 2013
01/13
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chase beat expectations, but cut chairman jamie dimon's compensation in half because of the so-called london whale trade. retail sales were up more than expected in december, 0.5%. americans ignored worries about higher taxes and kept heading to the stores. consumption makes up 70% of the u.s. economic growth. the debt ceiling debate, a presidential report card, and a quiet market rally. what does it mean for your money? joining us now, jared bernstein and former chief economist to vice president biden. also with us is a chief investment strategist with blackrock. thank you so much for joining us. >> thanks for inviting us. >> thank you. >> russ, let me kick it off with you. friday, a pretty good rally. is this rally for real? do you think it's sustainable going forward as we continue through this earnings period? >> i think in the short term it is. i think we're probably going to hit a road bump in february. the reason i say that is we've got a lot of flows coming into the market early in the year. people are nervous in december. they're coming back into stocks. that's a good thing over the
chase beat expectations, but cut chairman jamie dimon's compensation in half because of the so-called london whale trade. retail sales were up more than expected in december, 0.5%. americans ignored worries about higher taxes and kept heading to the stores. consumption makes up 70% of the u.s. economic growth. the debt ceiling debate, a presidential report card, and a quiet market rally. what does it mean for your money? joining us now, jared bernstein and former chief economist to vice...
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Jan 24, 2013
01/13
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i'm here in london. ross, it's a little bit warmer where i am today. >> yeah. well, it's starting to warm up here, as well. we've got a lot of great people to talk to. and look, there's a lot of great gossip yesterday, as well, going on. we talked to -- maria is going to join us. we will talk about the dinner we had last night. lloyd blankfine and a little bit more hair around his chin, which i -- you know, people are trying to say does that signify something? but let's bring maria in on this. i think it's just because he didn't bother to shave over christmas, right? >> well, he tells me that he has had a beard for many, many years and he hasn't had one for the last five years or something, and so he just went back to the man he was. >> right. >> and they've been on twitter this morning, we're trying to work out whether there's a deep significance in that. i think it was just the fact that he couldn't be bothered to share. >> it could be. but i can't really discuss the gossip at the dinner. it was off the record. >> but it is a fact that he has -- that is a fac
i'm here in london. ross, it's a little bit warmer where i am today. >> yeah. well, it's starting to warm up here, as well. we've got a lot of great people to talk to. and look, there's a lot of great gossip yesterday, as well, going on. we talked to -- maria is going to join us. we will talk about the dinner we had last night. lloyd blankfine and a little bit more hair around his chin, which i -- you know, people are trying to say does that signify something? but let's bring maria in on...
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Jan 31, 2013
01/13
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at 10:45 european time, we'll have our eyes on stocks from the london trading floor. >> other indices around the world posted record indices around the world in january. >> and we'll explain more in a little bit. >>> first, deutsche bank shares are trading higher today after the group reported strong operating performance for its divisions in the fourth quarter, despite posting a heavy loss. the german euro booked a 1 million litigation charge which led to restructuring. in an analyst call, it was said the group does not need to issue more sales but left the door open for the cocoa bonds to comply with u.s. regulations. >> meanwhile, santander shares are trading lower after the net profit more than halved to 2.2 billion euros in 2012, hurt by write-downs on property asset necessary spain and a slowdown in latin america. santander says it's returning more than 24 billion worth of ltr loans having taken 35 billion in ultra cheap etr funding. shares down about 2.5%. there's stephane pedrazzi now joins us from madrid. stephane, what's the reaction? >> we've seen a limited market reaction
at 10:45 european time, we'll have our eyes on stocks from the london trading floor. >> other indices around the world posted record indices around the world in january. >> and we'll explain more in a little bit. >>> first, deutsche bank shares are trading higher today after the group reported strong operating performance for its divisions in the fourth quarter, despite posting a heavy loss. the german euro booked a 1 million litigation charge which led to restructuring. in...
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Jan 15, 2013
01/13
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here in london, we're currently up .76%. >> interesting. meanwhile, china stands accused of illegally subsizing it's steelmakers. the steel producers are said to benefit from subsidized land, water, electricity and loans. that will help. the financial times reports that the european commission wants to strike back by slapping a duty of 50% on chinese coated steel. >> and for a look at asian commodity demand, we're joined by chung yang. good to see you. thank you for joining us. we had that strong china trade data out. what was interesting was quite a lot of stockpiling and rebuilding. i'm wondering whether they are doing that with commodities. >> i think for the euro for 201 is definitely the year of china play with the return of a china play again, especially with the view that, okay, we have seen the china economy has -- from -- and they're coming to stabilizing the space in the q4. for this coming friday, we're going to receive china gdp data that's going to be pro to be substantially important, especially for the commodities currency fo
here in london, we're currently up .76%. >> interesting. meanwhile, china stands accused of illegally subsizing it's steelmakers. the steel producers are said to benefit from subsidized land, water, electricity and loans. that will help. the financial times reports that the european commission wants to strike back by slapping a duty of 50% on chinese coated steel. >> and for a look at asian commodity demand, we're joined by chung yang. good to see you. thank you for joining us. we...
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Jan 1, 2013
01/13
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all right joining us now is london based cnbc's kelly evran. before she deserted me, she was a regular on this program. good year for the s&p 500. actually, judging from the numbers, the economy could be even stronger. looks like the back end got better. here is the interesting thing. business investment could be a weak spot. if it is not because of the fiscal cliff, then there is more reason to be concerned. we saw in the sentiment figures, especially in the last month, there is a clear sentiment shot. perhaps even a real spending shot for businesses. five months of slumping, the last two months showed healthy gains. consumer spending, personal income, unemployment claims are low. what do you make of that? >> that is the first thing we are getting. but, harrison, makes a good point, is the concern shifting from the business sector to consumers which are are going wait a minute. the return is happening. the weakness of consumers will be one reason to pause in the first quarter now that we know the debt ceiling is in the quarter. >> that is goin
all right joining us now is london based cnbc's kelly evran. before she deserted me, she was a regular on this program. good year for the s&p 500. actually, judging from the numbers, the economy could be even stronger. looks like the back end got better. here is the interesting thing. business investment could be a weak spot. if it is not because of the fiscal cliff, then there is more reason to be concerned. we saw in the sentiment figures, especially in the last month, there is a clear...
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Jan 14, 2013
01/13
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kelly, i think you and i know where we're going in london, lomoni. >> it's really the only reason why we want to go there, it's the key city for the election. >> i'm just looking at the hotel there. >> it would have nothing to do with the wine & the food and -- >> there's shopping. >> there is that. this isn't the last we've heard from mario monti, although as long as that's a surprise to anyone. >> gererali, one of europe's largest, is promising a revolution. he has appointed a new cio/coo. he said the company will strengthen its investments in europe. shares have been volatile today. they're now down .7.5%. >> and credit suisse is set to cut the size of 2012 bonus by 20%. carolyn has got more from jake with the detail. hi, carolyn. >> hr there, ross. this is all based on a local press report of the weekend. nothing has been confirmed by credit swiss so far. but the fact that there is speculation over the bonus poll being reduced, that is a surprise. ubs is expected to do the same. the question is how big is the cut going to be? credit suisse has cut its bonus pool for the last three
kelly, i think you and i know where we're going in london, lomoni. >> it's really the only reason why we want to go there, it's the key city for the election. >> i'm just looking at the hotel there. >> it would have nothing to do with the wine & the food and -- >> there's shopping. >> there is that. this isn't the last we've heard from mario monti, although as long as that's a surprise to anyone. >> gererali, one of europe's largest, is promising a...
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Jan 15, 2013
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the sunday times in london now says it is suing him for $1.5 million. and sba promotions is said to be looking to collect $7.5 million that it paid out to armstrong in an arbitration where he flat out denied it. his attorney said he went in with a lot of legal advice. >> he did it because everybody else was doing it. he wanted to keep up. he wanted to become a champion lawyer. he has a lot of settlement talks ahead and maybe some more lawsuits from all those sponsors who believed lance armstrong's story. sue? >> what do we know about his personal wealth? can he afford this? he was so successful for so many years and made an enormous amount of money on the surface anyway. >> he did. he got money in some of these claims, of course. he is a very wealthy man, but that wealth is going to be eaten into considerably by this. so the lawyers were talking with him before the oprah interview about how to contain the damage and a lot of lawyers probably advised him not to talk at all. >> all right. i'm sure. thank you very much. all right. stay tuned. facebook is n
the sunday times in london now says it is suing him for $1.5 million. and sba promotions is said to be looking to collect $7.5 million that it paid out to armstrong in an arbitration where he flat out denied it. his attorney said he went in with a lot of legal advice. >> he did it because everybody else was doing it. he wanted to keep up. he wanted to become a champion lawyer. he has a lot of settlement talks ahead and maybe some more lawsuits from all those sponsors who believed lance...
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Jan 25, 2013
01/13
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i'm ross westgate. >> and here in london, i'm kelly evans. wall street eyes another run at the psychologically important 1500 mark on the s&p. britain, though, on the brink of recession. gdp falling more than expected in the fourth quarter, sending the pound/sterling to a fresh one-year low against the euro. >> ecb president mario draghi says the central bank's unlimited bond buying scheme will stay in place, but he points out the effective omt is yet to be fully realized. >> are we satisfied for that? >> i think to say the least, the jury is still out. because all in all, we haven't seen a -- an equal momentum on the real side of the economy. >> and the imf managing director christine legarde tells cnbc the global central bank stimulus is still needed. >> we have the central bank on the one hand which have done quite a lot, which have been the fireman in a way. and you have the policymakers on the other hand particularly in the eurozone who have made a significant progress and need to keep the momentum. >> well, we've largely been on a win s
i'm ross westgate. >> and here in london, i'm kelly evans. wall street eyes another run at the psychologically important 1500 mark on the s&p. britain, though, on the brink of recession. gdp falling more than expected in the fourth quarter, sending the pound/sterling to a fresh one-year low against the euro. >> ecb president mario draghi says the central bank's unlimited bond buying scheme will stay in place, but he points out the effective omt is yet to be fully realized....
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Jan 11, 2013
01/13
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the ftse is up by about five points or so in london. if you want to know who is taking part in this rally, check out these new statistics. investors poured $5 million stocks into mutual funds. that is the largest weekly inflow since 2001. mean too many, etfs gained about $8 million in cash. it combines to 8el.3 million into flowing stocks funds overall. and it means investors overall are coming back into the market. >> is that a big number? >> at the beginning of the year, you tend to get a lot more because that's when things start picking up again if you're automatically depositing money in your 401(k). >> i need apples and is apples. i need year over year. >> it makes it a really big number, too. >> does it? >> i'll do some research. but we do see a lot bigger numbers coming in at the beginning of the year. >> 18 million is a lot to me, a lot to you. >> but when you look at the federal debt, maybe not a lot? >> i don't know. i don't know. and you know what? i don't know -- i don't know how big -- >> but at the beginning of the year, y
the ftse is up by about five points or so in london. if you want to know who is taking part in this rally, check out these new statistics. investors poured $5 million stocks into mutual funds. that is the largest weekly inflow since 2001. mean too many, etfs gained about $8 million in cash. it combines to 8el.3 million into flowing stocks funds overall. and it means investors overall are coming back into the market. >> is that a big number? >> at the beginning of the year, you tend...
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Jan 9, 2013
01/13
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took that nice train from london to paris. it goes a lot faster than amtrak, just so you know. >> does it lose money every year? >> no apple iphones to be found. but you saw a lot of galaxiegal >> you know, i've got to tell you, apple, wow, what a powerful hurt it's being put on a lot of people. this was one of those stories that everybody owns, and now everybody's saying, what the heck. >> right. >> got to break some news here with mary thompson. i think she's back at headquarters, news on aig. >> as we all know, the company's board is meeting today. and evidently after this meeting, according to a source, representatives from the treasury of the new york fed, as well as star international will be presenting to the board in what's considered a kind of mock trial. complete with rebuttals from all sides. it focuses on star international's lawsuit against the government. star international, which, of course, is a holder of aig stock, and run by the former ceo, is suing the government for $25 billion, alleging that it didn't pay
took that nice train from london to paris. it goes a lot faster than amtrak, just so you know. >> does it lose money every year? >> no apple iphones to be found. but you saw a lot of galaxiegal >> you know, i've got to tell you, apple, wow, what a powerful hurt it's being put on a lot of people. this was one of those stories that everybody owns, and now everybody's saying, what the heck. >> right. >> got to break some news here with mary thompson. i think she's...
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Jan 14, 2013
01/13
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the ftse is lightly higher bay few points in london. in asia overnight, you'll see that the hang seng endeded up by almost 150 points. in australia, the all ordinaries up by .25%. the shanghai was up by better than 3%. oil prices up slightly, about 60 cents to $94.15. the ten-year note at this point in the united states is yielding 1.85%. the dollar this morning, a lot of questions about the debt ceiling and what happened and whether or not that will put pressure on the u.s. dollar. but you can see right now, the dollar is down against the euro, which is back up at 1.3361. the dollar is up against the yen, 89.31. and gold prices this morning have gained a little bit of ground. up $7.70 to $1,668730. right now it's time for the global markets report. let's get over to kelly evans would is standing by in london. >> kelly, good morning. becky, good morning. i heard joe's comment about my hair. i will get back to that later, but i will say it was snowing earlier. it's beautiful. but that's not responsible for any notable change in look. jus
the ftse is lightly higher bay few points in london. in asia overnight, you'll see that the hang seng endeded up by almost 150 points. in australia, the all ordinaries up by .25%. the shanghai was up by better than 3%. oil prices up slightly, about 60 cents to $94.15. the ten-year note at this point in the united states is yielding 1.85%. the dollar this morning, a lot of questions about the debt ceiling and what happened and whether or not that will put pressure on the u.s. dollar. but you can...
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Jan 23, 2013
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the panel did get a bit feisty about that, but then we came to the discussion on the london whale and that pay cut we heard about from jamie dimon last week, and he said he was told by the board that he would be taking a pay cut given the $6 billion trading loss. i asked him if now that that is behind him will we put this entire issue behind or should shareholders expect more? let me ask you, news last week that you took a pay cut as a result of the london whale trading loss. would you say now that this issue is officially behind you or are there still ramifications around the london whale -- >> i didn't take it, i was given one. which i think is appropriate. the board had a tough decision to make. we had a record year. we had one terrible mistake in the year. look, we've fixed the problem from a financial risk for the most part. we've cleaned up cio and we've changed procedures to make sure we manage the company properly going forward. >> what kind of changes might we expect going forward? >> last year i think $1.8 trillion of capital or credit for consumers or businesses. we had a p
the panel did get a bit feisty about that, but then we came to the discussion on the london whale and that pay cut we heard about from jamie dimon last week, and he said he was told by the board that he would be taking a pay cut given the $6 billion trading loss. i asked him if now that that is behind him will we put this entire issue behind or should shareholders expect more? let me ask you, news last week that you took a pay cut as a result of the london whale trading loss. would you say now...
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Jan 2, 2013
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ross is in london. ross, obviously a lot of green arrows. and i guess you're standing -- yep, in front of an entirely green wall today. all because of what happened here with the fiscal cliff. >> yeah. that's right. happy new year to you. >> you, too. >> first trading day of the year. yeah, green. we're at 9-1 advances outpaced decliners now with dow jones stocks 6 hundred hunch. look at the graph. we're also up at the session high. volumes aren't necessarily terrific because it is january 2. but everybody will take the gains that we've got on this first day. it comes after sort of mixed gains really for european equity markets in 2012. the ftse 100 has been something of the laggard over the last 12 months or so. just up under 6%. it's broken through 6,000 for the first time today since july, 2011. the xetera dax up over 29% for 2012. up another 2.25% this morning, as well. up 5% in the fourth quarter. the acc up 2.39. and the ftse up 2.23%. and we have this risk on move, it has brought kwleelds down continuing in spain and italy again this
ross is in london. ross, obviously a lot of green arrows. and i guess you're standing -- yep, in front of an entirely green wall today. all because of what happened here with the fiscal cliff. >> yeah. that's right. happy new year to you. >> you, too. >> first trading day of the year. yeah, green. we're at 9-1 advances outpaced decliners now with dow jones stocks 6 hundred hunch. look at the graph. we're also up at the session high. volumes aren't necessarily terrific because...
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Jan 14, 2013
01/13
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the london whale and that loss may take a big bite out of jamie dimon's bonus. kayla is here with details. >> i'm told by my sources that the board is meeting today to discuss findings into the whale losses. that is spear headed by former exxon ceo and two other directors. the efforts started soon after early losses were exposed in may of last year. punishment of any oversight is of course compensation for ce o o jamie dimon and other top executives. more than $23 million, dimon is the most handsomely paid wall street executive. here is how you break down his pay package from last year. $1.5 million base salary which rose in 2011, a stock award worth some $17 million and cash bonus of 4.5 million. that is what expert say could be most susceptible here. now among the other components of dimon's compensation is lines of business. that could be scored lower to risk oversight on that whale trade. others is the strength of the balance sheet and return on equity. still, signs many penalty unclear. especially since the bank has record profit. adding anything to dimon's
the london whale and that loss may take a big bite out of jamie dimon's bonus. kayla is here with details. >> i'm told by my sources that the board is meeting today to discuss findings into the whale losses. that is spear headed by former exxon ceo and two other directors. the efforts started soon after early losses were exposed in may of last year. punishment of any oversight is of course compensation for ce o o jamie dimon and other top executives. more than $23 million, dimon is the...
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Jan 17, 2013
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the stocks are not really moving that much pip know it was down in london and has over the last 12 months, but here is the news and it is big. it is sacking its ceo tom albanese with no pay-out. why? the value of albanese is at the top of market. >> victory lap for you, my friend. >> we were talking about this many months ago and goodwill layoffs. we have deals we are doing at the top of the market in 2007 which was clearly -- remember, that's what microsoft did with $2 billion worth of that. this is more of that. can you see, blame it on aluminum prices but it shows so many deals are often done when you have a smarter buyer -- >> why are they short? >> i can't believe the stock isn't down more. >> he is an aussie. >> here is a company we don't talk about a lot. we should, because its he had a great run the last couple years. >> take a look at this press release. with more gran granularity. >> they give you -- they give you two-year and five-years. if you watch, see sales over two years. 18.8% in january. 16.6 percent in december. that basically shows you the industrial market -- >> it is
the stocks are not really moving that much pip know it was down in london and has over the last 12 months, but here is the news and it is big. it is sacking its ceo tom albanese with no pay-out. why? the value of albanese is at the top of market. >> victory lap for you, my friend. >> we were talking about this many months ago and goodwill layoffs. we have deals we are doing at the top of the market in 2007 which was clearly -- remember, that's what microsoft did with $2 billion...
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Jan 2, 2013
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when i go to investors about sterling in london, i can talk to private banks all over the west end who have wealthy individuals looking to "fast money" into the pound. and shows who want to go to the pound because i think the credit rating's out of control. i guess over last year and probably going forward, the private sort of wealth money, flow of safe haven money into the u.k. dominate ovs over time but tell continue to be bumpy. >> yeah. meanwhile, the politics in the u.k., i mean, as we watch what's happened with deficit reduction plans and the obr's forecast, does that wane -- >> we continue to not hit our deficit reduction plans and debt reduction plan. we talk, we talk a tougher fiscal story than we deliver in terms of debt reduction. we also stand up and say, look, this is the trouble with going down an austerity program is you have an economy that doesn't grow and you don't improve much. we muddle there. this could be the year when domestic politics becomes a big issue if the government coalition starts to fall apart. but otherwise, you know, our politics is muddling along. ra
when i go to investors about sterling in london, i can talk to private banks all over the west end who have wealthy individuals looking to "fast money" into the pound. and shows who want to go to the pound because i think the credit rating's out of control. i guess over last year and probably going forward, the private sort of wealth money, flow of safe haven money into the u.k. dominate ovs over time but tell continue to be bumpy. >> yeah. meanwhile, the politics in the u.k., i...
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Jan 11, 2013
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dana joins us now from london. dana, how big a hit are they expected to take in terms of client withdraws and how do we gauge that because they have so much money under management and a lot of the money is management's money. >> right. well, what we said in the story is at least a billion. so the sense we get is that it could be more than a billion. the break down -- it is an unusual firm. most of its assets belong to insiders, namely steve cohen, founder of the firm. to the tune of about $8 billion. it is a $14 billion fund in total. then there's about 6 billion of outside money. we are focussing on the outside money right now. if they were to lose a billion dollars of outside money, they probably couldn't survive that. i think there's two potential risks tore them. one is that the operations of the firm are funded largely from fees derived from the outside money. so as they lose that money, they lose money to pay people and keep the lights on and all that. then the other issue without screaming, you know, fire in
dana joins us now from london. dana, how big a hit are they expected to take in terms of client withdraws and how do we gauge that because they have so much money under management and a lot of the money is management's money. >> right. well, what we said in the story is at least a billion. so the sense we get is that it could be more than a billion. the break down -- it is an unusual firm. most of its assets belong to insiders, namely steve cohen, founder of the firm. to the tune of about...
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Jan 8, 2013
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kelly evans in london. the can. thank you. >> we're not going to forget that one. coming up, why electric cars may soon make more money. >>> and we'll be welcoming drew mattes to the table to find out what he says will draw today's trading session. stay tuned for that and a lot more. >>> welcome back to "squawk box" there morning. take a look at how u.s. equity futures are opening the day. the s&p would be off about 1.5 points, dow jones off about 9 noints and nasdaq off 3 points. the government wants all hybrid and electric vehicle toes make noise when traveling under 18 miles per hour. the national highway safety administration says the vehicles don't make enough speed to warn pedestrians. you hear this all the time. did you ever see a hybrid car? they're so quiet. >> they are quiet. you don't want to step out in front of it. >> there's no sound there. >> is it the same thing with the camera, some of them don't have a shutter noise? i like the ones that put the fake shutter sound back in. >> the sound would be very cool, i think. >> if you've ever discuss add loa
kelly evans in london. the can. thank you. >> we're not going to forget that one. coming up, why electric cars may soon make more money. >>> and we'll be welcoming drew mattes to the table to find out what he says will draw today's trading session. stay tuned for that and a lot more. >>> welcome back to "squawk box" there morning. take a look at how u.s. equity futures are opening the day. the s&p would be off about 1.5 points, dow jones off about 9 noints...
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Jan 29, 2013
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a lot of it is london, england, to the fed. >> absolutely. it's just anticipating uncle benny is going to come out tomorrow, here it is, we're going to keep giving it to you, not taking anything away. we're going to make sure this rally continues. scott just said it, the market rallies to historic highs but all because of the kool-aid. >> i think the fed will do nothing and i think that will help stocks. you've got to admit, close to historic highs in dow and s&p, there will be some resistance. the decline line not that great. four stocks advancing for three decline, that's not a huge advance decline line. by the way, some big names that have done very well this month are rolling over a little from yesterday, amd, ford, all with great months, the last day or so, they have been rolling over. >> that makes sense. there's profits. they will take some off the table for what they can expect, some resistance and pullback. >> that would be appropriate, especially after the run on so many individual stocks. >> there's the old historic closing high fo
a lot of it is london, england, to the fed. >> absolutely. it's just anticipating uncle benny is going to come out tomorrow, here it is, we're going to keep giving it to you, not taking anything away. we're going to make sure this rally continues. scott just said it, the market rallies to historic highs but all because of the kool-aid. >> i think the fed will do nothing and i think that will help stocks. you've got to admit, close to historic highs in dow and s&p, there will be...
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Jan 14, 2013
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. >> when you look at your past deals, you could look at the international petroleum floor in london. you closed that. the new york board of trade you acquired. you eliminated that floor. you even changed the name. should we expect this exchange down here is going to be more electronic than we've ever seen? >> yeah. what happened in those circumstances, the market moved all the volume off the floor on to the screen. >> yes. my apologies. this is not personal. you're going where the business is. >> i don't take it personally. but that did not happen here. years ago archipelago emerged to become more electronic. but the market has kept this floor here and there is is reason. the business has gotten too complicated. and people want human beings involved. so i say celebrate it. i'm an entrepreneur and i say this is something unique. make sure people send their orders here. >> the overall name of the firm is what? >> well, i.c.e. is the acquirer of all these companies, but underneath that we have more than a dozen exchanges and clearinghouses that all have their own regulators, their own b
. >> when you look at your past deals, you could look at the international petroleum floor in london. you closed that. the new york board of trade you acquired. you eliminated that floor. you even changed the name. should we expect this exchange down here is going to be more electronic than we've ever seen? >> yeah. what happened in those circumstances, the market moved all the volume off the floor on to the screen. >> yes. my apologies. this is not personal. you're going...
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Jan 17, 2013
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. >> well, gold is lent out every single day through the london bullion market. it's lent everywhere. so, if you have everybody trying to come after it at one time, just look at what happened with mf global. a lot of people involved in that, warehouse receipts. took awhile to get that back, so, you need to be concerned. i think the bigger picture is, why is germany doing this now. >> exactly. >> they've had it here for 40-some odd years. why today? >> maybe they have their own vault. germany's got 10% of the world's gold reserves and to men, i don't think this is going to be a catalyst to other people. i certainly don't think why it's that big of a deal to give germany their gold when it's not backed against anything. so, this is the reason why people -- this is why gold is the thing people want to hold. there's nothing backing gold. there's mortgages. >> they don't have to worry about the soviets, which is why they moved it here in the first place. let's think about why they moved it here in the first place. >> you don't think it's a big deal and you do -- >> th
. >> well, gold is lent out every single day through the london bullion market. it's lent everywhere. so, if you have everybody trying to come after it at one time, just look at what happened with mf global. a lot of people involved in that, warehouse receipts. took awhile to get that back, so, you need to be concerned. i think the bigger picture is, why is germany doing this now. >> exactly. >> they've had it here for 40-some odd years. why today? >> maybe they have...
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Jan 22, 2013
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owned by its corporate plane out of london. they make chaernlgs for the lithium batteries down there doing some tests. the ntsb with boeing investigators out in everett, washington, where they make the dreamliner. they have hundreds of employees at boeing in everett working on the 878 problem, and they are in teams trying to do what you would want to do here, do a test. try to figure out if there's some common theme here. and finally in japan, japanese investigators, along with investigators from the ntsb, they are looking at the battery from the ana dreamliner, the ntsb said that battery was ore charged, different than what was said about boston taking a look at boeing since the incident on boston on january 7th. still more questions than dreamliners. >> you know the ceo of the company has to be saying what's next? >> so tough. >> the badly named dreamliner has been a nightmare for him and his company over the years. phil, stay with us now. let get more now on the boeing fallout. a maintaining of the outperform radar saying al
owned by its corporate plane out of london. they make chaernlgs for the lithium batteries down there doing some tests. the ntsb with boeing investigators out in everett, washington, where they make the dreamliner. they have hundreds of employees at boeing in everett working on the 878 problem, and they are in teams trying to do what you would want to do here, do a test. try to figure out if there's some common theme here. and finally in japan, japanese investigators, along with investigators...
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Jan 16, 2013
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. >>> some frightening moments in london today. it was in a residential neighborhood this p
. >>> some frightening moments in london today. it was in a residential neighborhood this p
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Jan 24, 2013
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so macro investors all through london and new york trading hours today put on fresh positions, initiated fresh longs in dollar vsh yen, even though we're sitting at 90 a figure and above. i wouldn't get in front of this trade, i wouldn't go with the momentum, so i do want to buy dollar vsh yen around where it's trading, 90.20 right now. i'll swing for the fens and put a target at 95, the figure. then a stop down at 89. >> amelia, thanks so much. see you tomorrow for money motion. >>> why the bears are targeting a major software mark. d#: 2550 when i'm trading, i'm totally focused. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and the streetsmart edge trading platform from charles schwab... tdd#: 1-800-345-2550 gives me tools that help me find opportunities more easily. tdd#: 1-800-345-2550 i can even access it from the cloud and trade on any computer. tdd#: 1-800-345-2550 and with schwab mobile, tdd#: 1-800-345-2550 i can focus on trading anyplace, anytime. tdd#: 1-800-345-2550 until i choose to focus on something else. tdd#: 1-800-345-2550 all this with no trade minimums. tdd#: 1-800-345-25
so macro investors all through london and new york trading hours today put on fresh positions, initiated fresh longs in dollar vsh yen, even though we're sitting at 90 a figure and above. i wouldn't get in front of this trade, i wouldn't go with the momentum, so i do want to buy dollar vsh yen around where it's trading, 90.20 right now. i'll swing for the fens and put a target at 95, the figure. then a stop down at 89. >> amelia, thanks so much. see you tomorrow for money motion....